Total Newb QuestionO
I don't understand exactly what a trader is/does. I always thought they were the ones who actually tell a broker to buy/sell an equity, bond, derivative, etc. However, I was under the impression that they are told to buy/sell by financial analysts, portfolio managers, hedge fund managers, MDs, partners, etc. But, it seems to me that can't be right, since many of the most successful investors seem to come from a trading background (Soros, Cohen, etc) so they must be making more investment decisions than I realize. So, what exactly does a trader do? What makes them different from financial analysts, portfolio managers, and others who make key investment decisions?